In the last few years, we have seen a major privatisation programme being carried out in Brazil with many commitments being taken for infrastructure improvements. This requires substantial project financing, which, in turn, depend heavily on surety bonds (in Portuguese generally known as seguro-garantia). Some of you here tonight, like representatives of Odebrecht, know only too well the importance of surety bonds in your worldwide operations as well. This explains just part of the Brazilian immense demand, which supersedes, several times, the Brazilian domestic supply of surety bonds. Thus, we are delighted that Mr. Mark Mallonne and Mr. Bruce Cliff accepted our invitation to address us tonight, on the topic of the American Surety Market, as part of our continuing education programme.
Mark Mallonne is Senior Vice President and Bruce Cliff is Director of KEMPER INSURANCE COMPANIES, a leading American group founded in 1912.
Mark has 20 years of surety experience and joined the group with the specific mission of building a team to work with Kemper´s previously existing surety organisation, in order to expand its domestic and international surety portfolio. He is a former executive of Fireman´s Fund Insurance company, part of the Allianz Group.
Bruce, is a practicing lawyer who joined KEMPER after 13 years with Fireman´s Fund, with experience in both the Surety Claims/Legal and the International Surety Underwriting. Bruce received his B.A. degree from Wittenberg University, Ohio, and his J.D. degree from Valparaiso University School of Law, Indiana.
They have kindly agreed to answer questions after their presentation and, after that, you are all invited to join us for an informal cocktail in the room on the back of this auditorium.